Executive Professional Master's Program in Islamic Finance

Program components and duration:

The program aims to provide participants with the necessary professional knowledge and skills in Sharia standards for Islamic banks and financial institutions.

Tests and evaluation:

Each training material shall be accompanied by an examination in which the success rate is 60%. The total final success in the Executive Professional Master is calculated at 70% of the total average of all subjects, and the trainees undergo a comprehensive test.

Training packages  and their approval:

The training packages are accredited by the Academic Accreditation Commission, which are:

•   International Islamic Fiqh Academy.

·       International Academy for Legal Research.

• Saleh Kamel Center for Islamic Economics - Al-Azhar University.
• Islamic Economics Research Center - King Abdulaziz Al Saud University.

Conditions for applying for the Executive Professional Master's Program in Islamic Finance:

Obtaining a first university degree (Bachelor) is a requirement for admission to the Executive Professional Masters Program in Islamic Finance

Training materials:

First: Basic Materials:

1)  Certified Islamic Banker

•Overview:

The Certified Islamic Banker Certificate aims to improve the capabilities and capabilities of the employees of the Islamic financial and banking system. It is available to all employees of Islamic banks and finance and investment companies at their various professional levels. It also enables them to start a steady and easy way towards the various professional specializations.

The Certified Islamic Banker Certificate is considered the basic certificate that provides its holders with professional recognition, career development, and the ability to specialize in the future in other advanced banking fields. Holders of this basic certificate in any institution are considered an indicator that reflects the quality of its employees, and expresses the level of their qualification and their banking and Sharia commitment.

• Contents:

• - The general introduction to Islamic transactions.

• - Islamic banking system.
• - Islamic investment.
• - Islamic banking services.
• - Sharia bodies.

2) Islamic financial markets

•Overview:

The Financial Markets course aims to qualify the expertise working in Islamic financial institutions to understand the nature and basics of investment in the various financial markets, and to identify the techniques of the tools used and the practical applications of their products and the statement of the legal basis for them, in addition to determining the compatibility of a number of modern tools and products with the provisions of Islamic law such as purchasing On margin, short selling, financial derivatives, and others.

The course also aims to focus on the legal controls for dealing with different types of shares and their trading methods, and to explain how to issue and manage Islamic sukuk, funds and investment portfolios. It is natural that this certificate deals with the work system of these financial markets and the regulatory and supervisory regulations in this regard, and the definition of the most important roles and tasks assigned to the companies and institutions operating in them, and an indication of the most important challenges they face and ways to protect them from manipulation and sham deals and turning into a mere theater for tampering with the country’s wealth and an area for haram earning .

• Contents:

• - What are financial markets?

• - Liquidity tools in financial markets.
• - Rules and procedures for dealing in the capital markets.
• - investment funds.
• - Managing and configuring stock portfolios.
• - stock valuation.

3) International Trade:

• Contents:

The Islamic financial industry has contributed in the field of financing international trade by developing a number of innovative financial products that are compatible with the provisions of Islamic Sharia, and has set a number of controls on modern applications in line with the nature and characteristics of Islamic banking.

The international trade course will enable one to obtain all the requirements and basics necessary for making commercial contracts related to financing international trade, with a focus on how to prepare and implement documents for letters of guarantee related to trade financing, as well as a detailed presentation of documentary credits and operations related to them in the field of international trade financing, and an explanation of their mechanisms. And its terms, types, provisions, various complexities, legal controls, the risks involved and how to avoid them.

• Contents:

• - Liquidity tools in financial markets.
• - Documentary Credits.
• - Bank guarantees and letters of guarantee.
• - Documentary bills of collection.
• - remittances.

4) Fundamentals of Islamic banking accounting:

• Contents:

Accounting in Islamic financial institutions depends on objectives, concepts, assumptions, foundations, and acceptable accounting policies in accordance with the provisions of Islamic Sharia, as well as the prevailing values ​​and customs that do not contradict the provisions of Sharia, and this banking accounting cannot play this effective role except through Sharia controls and accounting standards adhered to by Islamic banks.

This course aims to qualify workers in Islamic banks and raise their efficiency in the theoretical and practical aspects of accounting treatments in Islamic banks in accordance with Islamic accounting standards, in all activities, operations and transactions, which leads to providing high-level information and preparing final financial reports that help its users to make the right decisions.

• Contents:

• - Introduction to accounting science.
• - Accounting cycle and financial statements.
• - An introduction to the accounting of Islamic banks.
• - Accounting treatments for bank deposit operations.
• - Accounting treatments for deferred sale.
• - Accounting treatments for local bank Murabaha operations.

5) Sharia supervision and review techniques:

• Contents:

Sharia supervision is the main pillar that distinguishes the work of Islamic financial institutions, as it is the one that ensures compliance with Sharia rulings and principles that must be observed by officials and all employees. To its contribution in developing new Islamic financial products.

The Shari’a control and auditing techniques course aims to provide an opportunity for those working in the field of supervision of Islamic banks and those working in Islamic banks to become acquainted with the concepts of control and auditing in Islamic financial institutions, the systems of control and auditing and their types, and identify the elements of internal Shari’a control, its objectives, tasks and powers. It also introduces external Sharia control and review, the organizational status of Sharia supervisory bodies, their tasks and powers, in addition to knowledge of the procedures and tools of field Sharia review, their stages, procedures, work guides, reports and their qualitative quality.